Peru’s copper exports declined on an annual basis by 7.5pc in January because of reduced sales volumes.
Although copper exports reached $1bn in January, their value decreased from $1.08bn during the same month last year, according to figures from the National Society of Mining, Petroleum, and Energy (SNMPE).
Copper shipments represented 45pc of all mining exports, SNMPE said, adding that copper prices increased by 5.23pc in January to $2.63/lb.
Sixty-seven percent of copper shipments in January were China-bound, followed by 11pc to South Korea, and 4pc to Japan.
Peruvian mining exports rose slightly by 0.6 in January to $2.22bn. Overall, mining shipments comprised 57pc of total exports for the month.
The mining industry is one of the most important economic activities in Peru, representing about 9pc of GDP and 60pc of the country’s exports. Copper and gold are the most important metals exported by value.